Hurricane Exploration Announces Gas Find in Shetland Islands

Hurricane Exploration has said that it has confirmed the presence of gas, gas condensate and light oil in the offshore gas field just west of the Shetland Islands in the UK.

The company says that the "Whirlwind" exploration well (205/21a-5), which Hurricane has a 100 percent stake in, has tested positive for up to 301 million barrels of oil equivalent in gas condensate and up to 373 million barrels of oil equivalent in light oil and gas. 

Hurricane's lowest estimates put the reserves of light oil and gas at 98 million barrels and 205 million barrels at best, and gas condensate, which was at a base of about 91 million barrels, rising to 179 million barrels best estimate.

The Whirlwind well was first drilled in 2010, with this most recent round of testing due for summer of 2011. However, delays in the delivery of a WilPhoenix drilling unit saw the work pushed back to September 2011. The delay necessitated a change to the work programme of the well to accommodate winter weather.

The well is now being suspended for further operations.

CEO of Hurricane Dr. Robert Trice said that the find is encouraging to the company's exploration and positioning in Shetland.

"I am particularly pleased with the Whirlwind operation," he said. "The discovery of light oil/condensate at Whirlwind is extremely good news as it is located in close proximity to our Lancaster basement discovery and further reinforces Hurricane’s presence in the West of Shetland. However, the true significance of Whirlwind to the region will have to wait until further evaluation of the data is completed followed by targeted appraisal drilling."